Quote from: waltermot321 on October 20, 2013, 04:25:38 PM

Quote from: madmartin on October 20, 2013, 04:18:52 PM

Quote from: frankenmint on October 18, 2013, 09:24:34 AM

I recommend something like btcguild which has the largest share of the pie...

I personally would not recommend to use the largest pool of all, because btcguild is quite close to 51% hashing power of the whole network. If someone reaches more than 51% hashing power of the network than he is able to split the network in two branches and the do several evil things. If interested read more here http://thegenesisblock.com/the-51-attack-what-bitcoin-can-learn-from-alt-coin-experiments/

I'm not saying btcguild would ever do that, I just want to point out that it is not necessary to give them the opportunity by adding my miners to their pool.

And: As everywhere else in real life you should not feed the rich....

Can you please summarise what can BTCguild do if they hit 51% hashing power?

They can seize control of the network.

Watch this: https://www.youtube.com/watch?v=Lx9zgZCMqXE